Unit Award Scheme

PSE020 PERSONAL FINANCE

In successfully completing this unit, the Learner will have		Evidence needed
demonstrated the ability to
1	research and compare two financial services available to the individual from two different banking or savings institutions	Student completed work
2	identify the meaning of the terms and abbreviations used on a bank statement	Student completed work
3	research and compare savings accounts offered by three different providers	Student completed work
4	describe the difference between gross pay and net pay	Student completed work
5	identify two statutory and one non-statutory deductions from pay and describe what each deduction is for	Student completed work
6	produce, from given information, a realistic personal budget for living costs for one week or one month	Student completed work
7	research and report on ways to improve the value for money of the budget already produced	Student completed work
8	explain why pension planning is important for the individual	Student completed work
9	explain the meaning of annual percentage rate of interest (APR)	Student completed work
10	describe the main advantages and disadvantages of buying on credit	Student completed work
11	outline and compare at least three different ways of buying on credit	Student completed work
12	explain the difference between a credit card and a debit card	Student completed work
13	describe two personal state benefits or allowances and the circumstances in which each is paid.	Student completed work

All outcomes recorded on an AQA Summary Sheet

Approved 29 July 2010Level - Level Two